There is no isolation as the schematic connects the main ground and isolated transceiver grounds together.
So whoever told you that device has an isolated RS-485 interface is wrong. The chip allows making an isolated interface, but the feature is left unused, so there's just the expensive chip and bunch of other expensive components external to it that could be replaced with simpler and cheaper chip to provide a non-isolated interface.
However, by the same accident, the mistake also allows the circuit to work, because RS-485, or RS-422 as per how you are using the chip, requires a common reference potential between the bus interface chips of the devices, which you now have. Common mistake is also to just wire 2 (or in your case 4) data wires between devices, and it may work on your desk when prototyping it, but in actual target application it just does not work.
Also the design is omitting any termination resistors - it might be fine if they are externally provided on the bus, but a proper RS-485/RS-422 interface requires terminating resistors.
Basically, if you are the one redesigning this, you can now choose between a cheaper non-isolated option or actually implement the isolation, and depending on the connector pinout, connector wiring, and how the target system uses the ground pins, it may or may not be possible to implement the isolation. If it did work fine without isolaton up to this date and no one complained about missing isolation, you might not need it.
You can also fix any other mistakes too if you find out the termination resistors or failsafe bias resistors are not implemented in the system at all.